Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) Shares Sold by Jane Street Group LLC

Jane Street Group LLC cut its position in Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) by 50.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,842 shares of the company’s stock after selling 28,006 shares during the quarter. Jane Street Group LLC’s holdings in Phathom Pharmaceuticals were worth $503,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PHAT. Bank of New York Mellon Corp boosted its position in shares of Phathom Pharmaceuticals by 20.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 114,721 shares of the company’s stock valued at $1,182,000 after purchasing an additional 19,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Phathom Pharmaceuticals by 42.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,071 shares of the company’s stock worth $104,000 after acquiring an additional 2,987 shares during the period. Rhumbline Advisers lifted its position in Phathom Pharmaceuticals by 17.1% during the 2nd quarter. Rhumbline Advisers now owns 55,178 shares of the company’s stock worth $568,000 after acquiring an additional 8,075 shares during the period. Marshall Wace LLP acquired a new stake in Phathom Pharmaceuticals during the 2nd quarter worth approximately $1,161,000. Finally, Oracle Investment Management Inc. acquired a new stake in Phathom Pharmaceuticals during the 2nd quarter worth approximately $2,318,000. 99.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phathom Pharmaceuticals

In other news, Director Frank Karbe purchased 12,500 shares of the stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $7.93 per share, with a total value of $99,125.00. Following the completion of the transaction, the director now owns 57,000 shares in the company, valued at approximately $452,010. The trade was a 28.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.10% of the company’s stock.

Phathom Pharmaceuticals Stock Performance

Phathom Pharmaceuticals stock opened at $7.74 on Monday. The stock has a fifty day moving average of $10.47 and a two-hundred day moving average of $12.88. The company has a market capitalization of $529.24 million, a price-to-earnings ratio of -1.36 and a beta of 0.56. Phathom Pharmaceuticals, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $19.71.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PHAT shares. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Phathom Pharmaceuticals in a research report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Phathom Pharmaceuticals in a report on Wednesday, December 11th.

Phathom Pharmaceuticals Profile

Phathom Pharmaceuticals, Inc, biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada for an investigational potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach.